In that case, consider testing free demo accounts on the trading platforms we currently offer, and if there is a particular function you cannot find, please let us know.
Glad to see that brokers are moving to MT5 platform, which is nice, clean and richer in functionality. Hotforex already made transition but I still occasionally use their MT4 because of its specific features.
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My sentiments exactlyâŚplus I opened a Demo account with @FOREX.com but now they tell me I must open a Live Accountđ˘
I would use a demo for learning the basics because 1 major difference is execution time and if your brokers going to scam you there not gonna do it on a demo.
I would like to see a thread on the execution times of all the major brokers on real accounts and if trades are delayed on purpose. That would be more informative.
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I think it would take them out business. Afterall, they make their money through funny administrative costs
Lets teach them that treating clients in this way is arrogant and unfair. Change the broker open demo with tickmill, IB or Hotforex and leave this negative experience,
It is really not a must that you open a live account with a broker as you demo trade, as demo trade has no limit.
In fact I prefer you demo trade for a long time before going live, and even when you are live start small. This is one way to know a broker you should trade with, because what you see while demo trading with them is nearly as what you will get when you go live with them.
Hi @sapen19,
While we donât offer trading services in Nigeria, if you are a citizen of Nigeria living in another country, you can open an account with FOREX.com through one of our trading entities worldwide.
Finding a good broker to trade with is no easy task. Firstly you will need to make sure the broker is regulated by a financial body that your given country is part of. For example if you reside in the UK you will need to find a good FCA regulated broker to trade with. However not all regulated brokers are good for trading and hide behind the regulations to pull of scams that trade you out of your investments. Its best to partner with a site that has built trust relationships with particular brokers as to add to a better and safer environment to trade.
Finding a good forex broker you can trust is made easy by many broker partners who review & test broker services offered to clients.
Please visit our site and see some of the partners we work with that provide solid trading relationships with its clients.
Research online for licensed ECN brokers and browse their websites.
To find the correct broker, make sure that it has tight spreads, fast trade execution and low commission structure along with easy deposits & withdrawals. It is always better to try the demo account before hand so as to get a better idea on how trading works at the same time, you need to read reviews of the brokers on forums like FPA or baby Pips and see what other traders are saying about a particular broker. All the best!
Demo trading is the best way of knowing whether a broker is worth investing your money with or not. Even though you donât get the full information, at least you get an idea as to how the broker interface and services work for you.
I also always check reviews on fpa and babypips before selecting a broker, thatâs how I settled on oanda. Itâs always better to know the experiences of past users before, especially withdrawals.
I donât completely agree, sometimes the reviews can be a bit biased, isnât it? Like if a trader had a bad day or is just a beginner, he wouldnât have many good things to say about the broker heâd be using. Heâd be pinning all his losses on the broker rather than accept his own mistakes or negligence.
Yeah youâre right, I know that happens.
The best way imo to find out about a broker is to demo trade. I tried demo account of etrade first and then turnkey forex, and after trading on their demo accounts decided to go with turnkeyforex for its u/i and acttrader platform that suited me better. I didnât even bother looking at reviews and in the last 1 year that I have been trading with them, I have been able to pull off some good profits.
First of all understand your trading style and then according to that search for good regulated brokers online. There are many online reviewing sites, you can make list of 2 or 3 brokers and test their products on their demo.
In general, I think itâs always a good idea to choose a broker in the country you are from. Also, if your country regulates Forex brokers it is better to go with a regulated broker. These brokers usually put more restrictions on your account with them like providing lower leverage and less trading pairs, but from their perspective they are doing this to help protect you and your risk. Going with a regulated broker also lets you know they are under the strict rules and regulations of the particular governing bodyâs regulations, meaning less âfunny businessâ will go on in fear of losing their license or being fined.
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Absolutely! We believe in providing a well-rounded and professional trading experience. For this reason, we provide demo accounts that operate just like live accounts. You have a first-hand opportunity to trade all our offerings in a risk-free environment and test out any strategies with our platforms directly. We encourage traders to open a demo account to test it out before going live.